To check on this, I visited Tillamook County Clerk Tassi O'Neil's office. Chief Deputy Clerk Christy Biggs introduced me to their record systems. The direct index lists land ownership transfers alphabetically by the last name of the seller, indirect indexes list transactions by the last name of the buyer, and both refer to the page in a deed book where the entire transaction is detailed.
Deed Book 7, Page 473 Tillamook County Clerk's office |
Bayocean Park's first sale by Potter-Chapin Realty Direct Index Book P, Section 10 Tillamook County Clerk's office |
Oregon Journal, August 25, 1907, p19 |
Davis' $120 bought him a 100' x 100' spot on the southeast corner of Mound Street and 24th Avenue; the streets were never built, nor anything else near this location at the north end of the spit. It's about 700' N30W of Bayocean Park's "Initial Point". Today, the land has trees and thick underbrush, but in 1907 it was bare, low-elevation, sand dunes. Davis would not have known that when he bought the lot in the Potter-Chapin Realty Company office at 402 Couch Building, 109 Fourth Street, Portland, Oregon.
In their initial push, during the last half of 1907, Potter-Chapin was running two or three ads per week in both the Oregonian and the Oregon Journal. Some guaranteed buyers they'd double their money. Others said twenty times their investment was more likely. They suggested buying two lots and selling one later for the price they paid for both and keeping the second to enjoy for themselves. Many writers have used these ads as evidence that Potter and Chapin were aggressive to the point of dishonesty, but they were correct in Darrell's case.
In 1910 Davis sold lot 20 for $650 ($15,925 in 2015 dollars according to Deed Book 16, pp. 303-304. In 1913 he sold lot 19 for $300 ($7115 in 2015 dollars per Deed Book 26, pp. 86-87. So, in just five years Davis made about seven times his investment. Unfortunately, whoever last owned these lots lost everything, because they were eventually foreclosed on by Tillamook County for non-payment of taxes. This is the sad story shared by most folks who owned property on Bayocean.